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Income Taxes (Tables)

12 Months Ended

Feb. 03, 2017

The following is a reconciliation of the federal statutory tax rate to the effective tax rate:



	2016		2015		2014
Statutory federal income tax rate	35.0	%	35.0	%	35.0	%
State income taxes, net of federal tax benefit	3.6		3.6		3.3
Valuation allowance - impairment	2.0		4.2		—
Other, net	(0.1	)	(0.4	)	(1.4	)
Effective tax rate	40.5	%	42.4	%	36.9	%

The components of the income tax provision are as follows:


¹	Amounts applicable to foreign income taxes were insignificant for all periods presented.

The tax effects of cumulative temporary differences that gave rise to the deferred tax assets and liabilities were as follows:



(In millions)	February 3, 2017			January 29, 2016
Deferred tax assets:
Self-insurance	$	352		$	369
Share-based payment expense	69			83
Deferred rent	78			91
Impairment of investment	381			270
Foreign currency translation	—			107
Net operating losses	174			159
Other, net	175			156
Total deferred tax assets	1,229			1,235
Valuation allowance	(578		)	(447		)
Net deferred tax assets	651			788

Deferred tax liabilities:
Property	(417		)	(507		)
Other, net	(34		)	(40		)
Total deferred tax liabilities	(451		)	(547		)

Net deferred tax asset	$	200		$	241

A reconciliation of the beginning and ending balances of unrecognized tax benefits is as follows:



(In millions)	2016		2015			2014
Unrecognized tax benefits, beginning of year	$	3	$	7		$	62
Additions for tax positions of prior years	3		—			2
Reductions for tax positions of prior years	—		(2		)	(57		)
Settlements	—		(2		)	—
Unrecognized tax benefits, end of year	$	6	$	3		$	7